July 26, 2012

Metro Study--2nd Quarter Reports Have Been Released

Goodall Homes is enjoying a fantastic 2012 so far! Sales are up, buyers are excited, and dirt is moving--all signs of an improving market in the Nashville area!
Here are a few excerpts from the most recent Metro Studies Executive Summary for 2nd Quarter 2012:
"The second quarter saw more starts than any previous quarter in the past three years" (in middle TN)--up 25% from 1st Quarter 2012!
"Demand outpacing supply resulted in inventory reductions across the board...builders continue to successfully sell their existing inventory and new starts."
"Nashville builders have been very successful in cleaning up their finished vacant inventory during the recession. Three years ago, in the second quarter of 2009, there were 1761 finished vacant units, representing a supply of 4.1 months. Currently, 630 units are in the finished vacant category--a rate of 1.9 months of supply."
"With new home starts increasing, a good indicator that builders are exhititing confidence in the market, the general consensus is the worst appears to be behind us and those in the industry are focused on the future. Nashville's MLS has shown improvements in sales for 11 consecutive months and prices on resale inventory appear to finally be at a bottom. According to the Greater Nashville Apartment Association, occupancy rates were still at 11 year highs and rents continue to rise. These factors combined with continued steady employment growth, the area's lack of new home inventory, and home values remaining stable, Nashville should expect to see upward movement in the new home market through the remainder of 2012."
Additionally, three Goodall Homes communities are in the top 3 communities (in terms of starts) in the Nashville area: Bent Creek (Nolensville), The Highlands at Ladd Park (Franklin), and StoneBridge (Lebanon). And one of our newest commuities, Providence Landing (Mt. Juliet) came in at #11.
Ahhhhhhh, a breath of fresh air does a body good!